Video service at $5.99 a month, undercutting Netflix

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This is breaking news as Apple is still on stage making new announcements. Apple, which is present only in the premium segment, has a miniscule share in this price-sensitive market where Chinese budget brands such as Xiaomi, Vivo and OPPO and South Korea's Samsung are top sellers.

The service is launching in more than 100 countries at once. One report had suggested that Apple TV+ would cost $9.99. As you might imagine, it's a streaming service like Netflix or Amazon Prime Video, but with an Apple twist. The CEO also revealed that customers who purchase certain Apple hardware (Cook shouted out the iPhone, iPad, Mac, and Apple TV) will receive one year of Apple TV+ for free. However, Apple's wrong-footed the naysayers.

But Apple's streaming service undercuts the price of its rivals.

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Apple used the March event as an opportunity to bring out some of the big talent behind the nearly two dozen series that have been ordered for Apple TV+ to preview their programs, including Aniston, Witherspoon, Steven Spielberg, Steve Carell, Momoa, Alfre Woodard, Kumail Nanjiani, Big Bird, J.J. Abrams and Sara Bareilles. Other TV series, movies and documentaries will follow in the future. You'll pay a monthly fee for unlimited playing access to the games included in Apple Arcade.

Apple's biggest show yet?

Apple has been teaming up with artists and storytellers like Oprah Winfrey, Steven Spielberg, Jennifer Aniston, Reese Witherspoon, Octavia Spencer, J.J. Abrams, Jason Momoa, M. Night Shyamalan, Jon M. Chu, Steve Carell, Alfre Woodard, Kumail Nanjiani, Sara Bareilles, and much more.

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